Shares of Biostar Pharmaceuticals Inc (NASDAQ:BSPM) ended Wednesday session in green amid volatile trading. The shares closed up +1.34 points or 65.37% at $3.39 with 12.18 million shares getting traded. Post opening the session at $2.09, the shares hit an intraday low of $2.09 and an intraday high of $3.75 and the price vacillated in this range throughout the day. The company has a market cap of $7.49 million and the numbers of outstanding shares have been calculated to be 2.21 million shares.
Biostar Pharmaceuticals Inc (BSPM) on Aug. 22, 2016 announced its financial results for the second quarter ended June 30, 2016.
During the fiscal second quarter of 2016, the Company recognized:
- Net sales of $0.6 million, a decrease of approximately $13.6 million, or 95.6% as compared to the same period in 2015.
- Gross profit decreased by approximately $5.6 million, or 95.0% for the three months ended June 30, 2016 as compared to the same period in 2015.
- Sales of Shaanxi Weinan Products increased by approximately $0.4 million, or 302.9% as compared to the same period in 2015.
- Sales and Production of Aoxing Pharmaceutical Products remained temporarily suspended as the Company still working toward renewal of its GMP certificates.
- The Company recorded a provision for doubtful accounts in the amount of $6.3 million during the second quarter. Our results of operations were materially affected by this provision.
- Net loss of $6.9 million as compared to net loss of $0.5 million for the second quarter 2015.
Shares of Merck & Co., Inc. (NYSE:MRK) ended Wednesday session in red amid volatile trading. The shares closed down -0.46 points or -0.74% at $61.35 with 10.42 million shares getting traded. Post opening the session at $61.92, the shares hit an intraday low of $61.30 and an intraday high of $62.34 and the price vacillated in this range throughout the day. The company has a market cap of $165.94 billion and the numbers of outstanding shares have been calculated to be 2.77 billion shares.
Merck & Co., Inc. (MRK) on September 7, 2016 announced that the U.S. Food and Drug Administration (FDA) has accepted for Priority Review the supplemental Biologics License Application (sBLA) for KEYTRUDA® (pembrolizumab), the company’s anti-PD-1 therapy, for the first-line treatment of patients with advanced non-small cell lung cancer (NSCLC) whose tumors express PD-L1, with a PDUFA, or target action, date of Dec. 24, 2016. Additionally, the FDA granted Breakthrough Therapy Designation for this indication. Merck has also submitted a Marketing Authorization Application to the European Medicines Agency for this indication.
The submissions were based on data from the pivotal phase 3 KEYNOTE-024 study, which showed that KEYTRUDA monotherapy resulted in superior progression-free survival (PFS) as well as overall survival (OS) compared with standard chemotherapy in patients with advanced NSCLC whose tumors expressed high levels of PD-L1 (tumor proportion score of 50 percent or more). Based on the results, the trial was stopped early to give patients still on chemotherapy the opportunity to receive KEYTRUDA. Merck filed for approval of KEYTRUDA in the first-line setting at a dose of 200 mg every three weeks, the dose studied in KEYNOTE-024.
“Chemotherapy has been the foundation of first-line treatment for non-small cell lung cancer for decades, so the significant improvement in survival in patients with high PD-L1 expression seen with KEYTRUDA compared to chemotherapy is welcome news,” said Dr. Roger M. Perlmutter, president, Merck Research Laboratories. “We appreciate the opportunity to work with regulatory authorities to make KEYTRUDA a first-line treatment option in non-small cell lung cancer.”